4 January 2022 SEPA

How do SEPA transfers work?

There are several types of bank transfers and they are always based on an interbank network. Within the Single Euro Payments Area (SEPA), transfers are called SEPA transfers, and international transfers are called SWIFT transfers. There are two types of SEPA transfers. Both of them include the term SCT (SEPA Credit Transfer): SCT – standard … Continued

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10 January 2021 SEPA

List of SEPA member countries

SEPA (Single Euro Payments Area) refers to a single euro payments area, the aim of which is to harmonise means of payment (direct debit, payment, bank card) in 36 European countries and territories. SEPA was developed by the EPC (European Payment Council), which brings together European banks and their respective federations. This initiative was born … Continued

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7 June 2017 SEPA

What is Instant Payment?

Instant Payment is a new European means of payment, available to individuals and businesses from 2018 onwards, which enables instant bank transfers (approximately 10 seconds). Instant Payment is a project that has involved many European institutions since 2015, including the European Retail Payment Board (ERPB), the European Payment Council (EPC) and the European Banking Authority … Continued

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5 February 2017 SEPA

SEPA Direct Debit: SDD Core

The SDD Core Direct Debit applies to all payers and is mandatory for banks in the SEPA zone. Introduced on 1 August 2014, the SEPA Direct Debit does not pass through card networks but is bank-to-bank, thus reducing transaction costs. The SEPA SDD Core is a payment instrument used for one-off or recurring payments within the … Continued

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3 February 2017 SEPA

SEPA Credit Transfer: SCT

The SCT (SEPA Credit Transfer) was launched in January 2008, with the aim of replacing national credit transfers within the SEPA zone. The transition to SEPA strengthens the single market and facilitates the development of trade in Europe. Indeed, the SEPA Credit Transfer is based on the harmonisation of money transfers in terms of pricing, … Continued

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20 January 2017 SEPA

The SEPA SDD B2B Debit

The SEPA business-to-business direct debit, also known as SEPA B2B or SDD B2B, is intended for professionals. It enables a single or regular euro invoice to be paid in euros, with no upper limit on the amount, to a creditor within the SEPA zone, and to set up a payment schedule if necessary. Since 1 … Continued

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3 January 2017 SEPA

The sepa creditor identifier

The SEPA Creditor Identifier (SCI) is necessary and mandatory for a company to collect direct debits from its creditors in the SEPA area. The SCI is a unique and unchangeable number that identifies the issuer of the direct debit. Definition of the SEPA Creditor Identifier The SEPA Creditor Identifier is a unique and mandatory reference … Continued

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